Tarun K. Soni, Vikas Pandey and Priti Aggarwal
The paper analyzes the volatility transmission within the cotton markets by utilizing commodity futures prices from the USA, China and India, encompassing important global events…
Abstract
Purpose
The paper analyzes the volatility transmission within the cotton markets by utilizing commodity futures prices from the USA, China and India, encompassing important global events that have significantly influenced the global cotton markets, like the China-USA trade dispute, the COVID-19 outbreak and the Russia–Ukraine conflict.
Design/methodology/approach
The authors employ a volatility spillover measure developed by Diebold and Yilmaz (2009, 2012, 2014). Additionally, the methodology proposed by Baruník and Křehlík (2018), which divides the overall volatility spillover into short, medium and long-term segments has been used. To investigate the volatility connectedness, weekly (close-to-close) returns of the cotton futures contracts that are traded on the Chicago Board of Trade Dalian Commodity Exchange National Commodity Exchange of India (NCDEX), and Multi Commodity Exchange (MCX) are considered.
Findings
The paper identifies the presence of long-term volatility transmission among the three cotton futures markets. It demonstrates that a global shock like the Russia–Ukraine conflict has a greater impact on volatility in other markets than USA–China trade disputes. It also highlights the weakening role of the US cotton futures markets as a price leader for Indian and Chinese markets.
Research limitations/implications
Since only three major markets have been studied, the future studies can explore the interconnectedness by including other important markets including Brazil, Turkey, Bangladesh, etc. Further, the moderating role of relationship between other important variables such as cotton production, harvest, inventory, exchange rate, oil price, trade policies, etc. can be examined. Furthermore, the interconnectedness with the regional spot markets in India can also be examined to study how the volatility from the futures market can affect the volatility in the spot markets and vice-versa.
Practical implications
The understanding of domestic food price volatility and its transmission from international to domestic markets is crucial for designing effective policies to address excessive volatility and protect vulnerable groups like producers, consumers, etc.
Social implications
The findings emphasize on the substantial market dependence with the US and the Chinese markets which have a significant impact on the Indian markets with considerable implications for hedgers, producers and exporters, particularly during periods of higher volatility.
Originality/value
This study assesses the interdependencies among three major cotton-producing countries and the influence of factors like the USA–China trade tensions in 2018, the COVID-19 crisis and the Russia–Ukraine conflict in order to gauge the degree of volatility interconnection among these key players in the cotton market.
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The purpose of this paper is to investigate the volatility spillover from crude oil and gold to the BRICS stock markets, after removing the effect of co-movement of prices of…
Abstract
Purpose
The purpose of this paper is to investigate the volatility spillover from crude oil and gold to the BRICS stock markets, after removing the effect of co-movement of prices of crude oil and gold.
Design/methodology/approach
Three multivariate GARCH models (dynamic conditional correlation, constant conditional correlation, and Baba, Engle, Kraft and Kroner) are used to capture the dynamic relationship between the crude oil and gold returns. The innovations from gold and oil are orthogonalized, and the EGARCH model is employed for the spillover analysis. The influences of oil price shocks and gold price shocks are tested on the returns of each of the BRICS equity markets.
Findings
There is evidence of volatility spillover from both the crude oil and gold to the BRICS stock markets. A sub-sample analysis suggests that the volatility spillover from gold was not significant before the financial crisis of 2008, but became significant post-crisis. The volatility asymmetry, which was not significant before the crisis, also became significant after it.
Originality/value
This study examines the volatility spillover to the BRICS stock markets from crude oil and gold, after accounting for the co-movement in their prices. It can help equity investors to judge whether gold can provide incremental diversification benefit, if used in conjunction with crude oil. The study also provides insights into the changes caused by the 2008 financial crisis on this volatility spillover mechanism.
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Yogesh Kumar, Vinay Kumar Tanwar, Anurag Pandey, Prateek Shukla and Vikas Sharma
The purpose of this paper is to develop chicken cutlets enrobed with bread crumbs vis-à-vis dried carrot pomace and to assess its effect on physico-chemical properties, sensory…
Abstract
Purpose
The purpose of this paper is to develop chicken cutlets enrobed with bread crumbs vis-à-vis dried carrot pomace and to assess its effect on physico-chemical properties, sensory attributes and texture profile analysis.
Design/methodology/approach
Three experimental groups were made: control group chicken cutlets (C), chicken cutlets enrobed with bread crumbs group (Tb) and chicken cutlets enrobed with dried carrot pomace group (Tc). All the procedures used in the study for estimation of various physico-chemical properties, sensory evaluation and texture profile analysis were standard protocols.
Findings
There was a significant (p < 0.05) increase in water holding capacity, crude fibre content and ash content of enrobed chicken cutlets, whereas moisture, fat content and shrinkage of product were significantly (p < 0.05) decreased. The results for sensory evaluation and texture profile analysis of enrobed chicken cutlets were better than control group. Overall acceptability score of chicken cutlets enrobed with dried carrot pomace was revealed to be highest (7.5 ± 0.29) and that of control group was found to be lowest (6.4 ± 0.22). Hardness (N/cm2) value found for control group chicken cutlets, chicken cutlets enrobed with bread crumbs group and chicken cutlets enrobed with dried carrot pomace group were 2.2 ± 0.17, 3.1 ± 0.29 and 4.3 ± 0.27, respectively.
Research limitations/implications
Future research may benefit to assess the effect of enrobing with bread crumbs and dried carrot pomace on mineral and vitamin content and lipid profile of meat products.
Originality/value
Enrobing of chicken cutlets with bread crumbs and dried carrot pomace improved the sensory attributes along with texture profile analysis. Hence, enrobing with bread crumbs and dried carrot pomace could be used as processing technology to improve sensory appeal, especially crispiness of meat products.
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Vikas Kumar, Amanjot Singh Syan, Amanpreet Kaur and Bikramjit Singh Hundal
This study aims to examine the farmers’ awareness level and explores the factors, which may influence their adoption intention regarding solar powered pumps.
Abstract
Purpose
This study aims to examine the farmers’ awareness level and explores the factors, which may influence their adoption intention regarding solar powered pumps.
Design/methodology/approach
The study consist of a sample of 510 respondents selected from the rural region of Punjab (India) by using convenience sampling. Descriptive analysis, exploratory factor analysis, confirmatory factor analysis and multiple regression analysis techniques have been used for the analytical purpose.
Findings
The study reveals that dimensions such as perceived benefit, perceived compatibility and government incentives have a significant impact on intention to use solar powered pumps, whereas high investment cost and lack of awareness regarding government subsidies are the main reason for non-adoption of the same.
Research limitations/implications
The sample size has been selected on the basis of convenience sampling and has been taken from the rural area, which may affect its generalizability.
Practical implications
The present research is expected to be useful for the manufacturers, regulators, customers, commercial banks, product and service providers, and other environmental institutions.
Originality/value
The study has acknowledged various intentional factors, which influence the adoption decision of solar powered pumps. Therefore, the present study will be useful to formulate action plans to improve the environmental quality.
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Vikas Kumar, Bikramjit Singh Hundal and Kulwinder Kaur
The purpose of this paper is to identify the factors influencing farmers’ intention to purchase solar water pumping systems (SWPS).
Abstract
Purpose
The purpose of this paper is to identify the factors influencing farmers’ intention to purchase solar water pumping systems (SWPS).
Design/methodology/approach
The research is based on primary data that have been collected from a total of 345 solar pump users from different villages and rural areas of Punjab (India). Exploratory and confirmatory factor analysis and multiple regression analysis have been used to examine the collected data. Multiple regression analysis is used to examine the identified dimensions’ impact on customer buying behaviour.
Findings
The results of analysis validated that consumer buying behaviour is significantly determined by cost, performance and government initiatives dimensions. However, dimensions such as eco-friendly product, information regarding product and company, environmental concern and social influence were found insignificant.
Research limitations/implications
The sample size has been selected on the basis of convenience sampling and sample has been taken from the rural area. Therefore, the result may not be representative of the overall population. The perception of respondents from one part may vary from another part of India.
Originality/value
By providing an insight into factors affecting consumer buying behaviour of SWPS, the proposed research attempts to fill the gaps in literature by conducting an empirical study on consumer buying behaviour. As the study relates to SWPS users, findings will be of additional value to solar product companies and the government.
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Durgesh Agnihotri, Kushagra Kulshreshtha, Vikas Tripathi and Pallavi Chaturvedi
The study aims to examine the customers' revisit intention toward the green restaurants after service failure based upon service failure attributions. The study further intends to…
Abstract
Purpose
The study aims to examine the customers' revisit intention toward the green restaurants after service failure based upon service failure attributions. The study further intends to investigate the moderating effect of green self-identity on customers' post-service failure behavioral intentions.
Design/methodology/approach
A self-administered questionnaire was distributed to 327 participants who had experienced service failure while dining in green restaurants. The study draws upon the prevailing literature to examine the relationship among the constructs using structural equation modeling (SEM).
Findings
The findings of the study have confirmed that service failure has an adverse effect on customers' revisit intention toward the green restaurants. However, customers with green self-identity appear less anxious about service failure as findings indicate customers revisit green restaurant even after service failure.
Practical implications
The study provides a clear indication to the managers of the green restaurants that a better understanding of service failure attributions may facilitate in preventing service failure in a prompt and reasonable manner. It will not only contribute to building the brand reputation, but also ensure that customers stay with the brand for a longer duration.
Originality/value
The study is unique in a way that it is the first of its type to establish a relationship between service failure attributions and customer satisfaction in the emerging South Asian market, such as India in the context of green restaurants. Besides, this is the only study to use green self-identity as a moderator between the relationships of customer satisfaction and revisit intention.
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Haidar Abbas, Paikar Fatima, Abdul-Aziz Mustahil Ahmed Ali Akaak, Guilherme F. Frederico and Vikas Kumar
This research aims to ascertain the various operational maturity challenges faced by the online food ordering and delivery enterprises (OFODE), their nature and their interactive…
Abstract
Purpose
This research aims to ascertain the various operational maturity challenges faced by the online food ordering and delivery enterprises (OFODE), their nature and their interactive relationships. In particular, this paper aims to (a) identify the most relevant operational maturity challenges faced by the OFODE during the COVID-19 lockdown in Oman, (b) explore and establish any likely structural relationship among these challenges and (c) put them into logical clusters.
Design/methodology/approach
Experts helped to reduce the 18 initially identified maturity challenges to 13 most pressing ones. Mutual relationships, dominance of interactions and their classifications were explored using fuzzy interpretive structural modeling (FISM) and fuzzy MICMAC analysis.
Findings
The study of situation-specific operational maturity challenges convinced the authors to propose a distinct FISM model that depicts the relationship among these challenges. Keeping commissions and fees reasonable emerges as the challenge which all other challenges seemingly culminate into. One of the most important situation-specific challenges (i.e. customer confidence about infection free delivery) emerges as a linkage challenge which aggravates as well as is aggravated by certain challenges.
Research limitations/implications
Besides enriching literature, the proposed model has implications for practitioners particularly when the similar lethal waves are experienced anywhere. The number of respondents, subjective approach, specific context as well as the geographical area coverage are the key limitations.
Originality/value
To the best of the authors’ knowledge, this study is the first known scientific effort which attempts to model the operational maturity challenges faced by the OFODE during COVID-19 lockdown period. The authors used the FISM modeling approach to forge these interrelated challenges into a structural model.
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Shashi, Myriam Ertz, Roberto Cerchione and Vikas Kumar
Despite the numerous benefits of digitalization, many business-to-business (B2B) firms have yet to rely on data-driven decision-making, wavering the decision to adopt digital…
Abstract
Purpose
Despite the numerous benefits of digitalization, many business-to-business (B2B) firms have yet to rely on data-driven decision-making, wavering the decision to adopt digital marketing practices. Topical scholarship is scattered across disciplines, schools of thought and methodological approaches, leading to an inability to suggest better management practices. This study aims to review the extant B2B marketing digitalization literature and addresses these concerns.
Design/methodology/approach
This paper conducted a systematic literature review of 96 high-quality articles extracted from the Web of Science database. Thereafter, this paper carried out descriptive statistical and content analyses of these articles.
Findings
Six primary research streams have been identified, and 16 research propositions have been formulated to comprehensively overview the B2B marketing digitalization landscape. The study delves into the factors and barriers influencing the pace of B2B marketing digitalization, sales lead generation and sales performance. Additionally, it introduces B2B digital value creation frameworks, emphasizing the crucial role of marketing analytics and decision tools in effective B2B marketing. The research also underscores various digitalization strategies aimed at bridging the digitalization gap in B2B companies at both strategic and tactical levels. Finally, the study presents an agenda to stimulate future research on theoretical and managerial topics critical to enriching the field.
Originality/value
This research outlines 16 research propositions that could be further tested to get more detailed insights into the digitalization of B2B marketing. Additionally, practitioners, authorities and researchers in the field may find this review valuable as it provides a comprehensive overview of current research in the domain.
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Jatinder Kumar Jha, Jatin Pandey and Biju Varkkey
This paper aims to examine the relationship between perceived investments in employees’ development (PIED) on work engagement and the moderating effects of psychological capital…
Abstract
Purpose
This paper aims to examine the relationship between perceived investments in employees’ development (PIED) on work engagement and the moderating effects of psychological capital on this relationship for liquid knowledge workers, employed in the Indian cutting and polishing of diamond industry (CPD).
Design/methodology/approach
A questionnaire composed of established scales was administered to 134 liquid knowledge workers. Having established convergent and discriminant validity using structural equation modelling, the model was further analysed using the Process macro to check for direct and moderating effects.
Findings
The research findings suggest that the perceived investment in employee development and psychological contract enhancement (relational and transactional) made by CPD units for liquid knowledge workers positively influenced their work engagement level. The study also finds that relational contract (not transactional contract) positively moderates the relationship between perceived investment in employee development and work engagement.
Research limitations/implications
This is a cross-sectional single source study; future studies could look at longitudinal and multisource perspective.
Practical implications
The study presents a “star matrix of engagement” that guides the application of the two strategies of perceived employee development and psychological contract enhancement for liquid knowledge workers. This has implications for design and implementation of human resource management practices and policies for employee management.
Originality/value
The study makes significant contributions to existing literature on antecedents of work engagement of liquid knowledge workers by examining the direct and moderating influences.
Details
Keywords
- Quantitative
- Employee management
- Indian cutting and polishing of diamond (CPD) industry
- Liquid knowledge workers
- Liquid workforce
- Perceived investment in employee development (PIED)
- Relational psychological contact
- Transactional psychological contract
- Work engagement
- Highly skilled work force
- Training
Manoj Subhash Kamat and Manasvi M. Kamat
This study aims to find whether the Indian private corporate sector follow stable cash dividend policies, whether dividends smoothen earnings, estimate the implicit target…
Abstract
Purpose
This study aims to find whether the Indian private corporate sector follow stable cash dividend policies, whether dividends smoothen earnings, estimate the implicit target dividend ratio, and examine the determinants along with speed of adjustment of dividends towards a long run target ratio.
Design/methodology/approach
The study uses the instrumental variable (IV) approach for dynamic panel data for 1971‐2010 periods controlling for economic reforms. The GMM‐in‐levels model, GMM‐in‐first‐differences and GMM‐in‐systems are alternatively estimated to include other lag structures.
Findings
In the post‐reform period lower dividends are consistent with rapid growth in the economic environment and the tendency to smoothen dividends has considerably decreased over time. The estimated model suggests dividends substitute for less opportunity for internal growth and increased general likening to relatively retain their earnings and finance their growth, unlike the past.
Research limitations/implications
Limitation to capture substitution, ownership and self selection effects stems up from data as the Annual Studies RBI does not include such variables, does not capture qualitative data and disallows identification of the firm.
Practical implications
The paper documents long run trends and inter‐temporal dividend patterns controlling economic reforms for a relatively larger number of public limited firms nearing four decades for an emerging economy.
Originality/value
This is a first attempt to take a holistic view of dividend using rich set of unexplored dynamic panel data on Indian firms controlling for reforms using contemporary econometric models and analyzes issues relating determinants, smoothening and stability of the corporate dividend structure.